"Coinbase's Profit Surges as Trading and Interest Income Rise"

Coinbase Global reported a fourth-quarter profit, driven by increased transaction volumes and higher interest income from its stablecoin reserves, leading to an 8% surge in its shares. The rebound in crypto prices and the approval of the first spot bitcoin-exchange traded funds by the U.S. Securities and Exchange Commission contributed to investor optimism. Coinbase's partnership with Circle, which issues the USD Coin (USDC) stablecoin, also boosted its earnings, with stablecoin revenue jumping nearly 18%. Overall, the company posted a profit of $273.4 million, compared to a loss of $557 million a year ago.